My #1 stock for the next 5 years... nice day, crushed earnings and set 2 for 1 split. WOOOOO baby!
BROADCOM (BRCM)
.26 earned vs .18 estimate by analysts
.26 earned vs .06 in the year ago period
Revenue $70.1M vs $17.3M year ago period
Splits 2/17
I have the May and Feb CALLs on this baby.
Here is a report from CBS Marketwatch.... don't miss this one if your a short term OR long term investor... it has "Cisco-like" qualities (no hype)
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Broadcom sails above Street estimates
Chip manufacturer sets 2-for-1 stock split
By Janet Haney, CBS MarketWatch
Last Update: 6:59 PM ET Jan 26, 1999
IRVINE, Calif. (CBS.MW) -- Shares of Broadcom could rise
Wednesday as the company reported fourth-quarter earnings well above
estimates and set a 2-for-1 stock split Tuesday.
The Irvine, Calif.-based maker of integrated silicon
solutions said its net income for the period was
$12.8 million, or 26 cents a share, up markedly
from $2.5 million, or 6 cents a share, a year ago.
The consensus estimate from analysts surveyed by
First Call was 18 cents.
Revenue was $70.1 million, compared with $17.3
million in the year-ago fourth quarter.
Broadcom (BRCM) also said its board approved a
2-for-1 stock split for investors on record as of
Feb. 5. The additional shares will be distributed
around Feb. 17. See related press release.
"In particular in the fourth quarter, we generated substantial increases in
shipments of our chips for digital set-top boxes for cable TV, and chips
for high-speed networking products," Henry T. Nicholas III, president
and chief executive, said in a press release.
The company noted that it launched several new products in the quarter,
including a high-end graphics chip for use with video and Internet content
on television set-top boxes.
Broadcom said Monday it acquired Maverick Networks, a San Jose,
Calif.-based manufacturer of integrated silicon for multilayer switches. See
press release. The deal includes the issue of 864,200 Class B Broadcom
shares in exchange for all shares of Maverick's preferred and common
stock. The merger is expected to close in 90 days.
"This is a strategic step for us as we continue to broaden our silicon
systems product offerings and facilitate the unification of voice, video and
data services across the LAN and WAN," Nicholas said. LAN refers to
a local area network, and WAN to wide area network.
Shares of Broadcom jumped 9 1/4 to 129 1/2, ahead of the news. |
